Spanish Gas Groups Probed For Alleged Pricing Scheme

Law360, New York (October 7, 2011, 3:17 PM EDT) -- Spain's competition regulator on Friday announced an investigation into a possible scheme among natural and liquefied gas associations to to charge higher prices for gas services in violation of state-required rates.

The investigation is a preliminary step in the process of researching the alleged illegal behavior, but the associations and their member companies could face fines of up to 10 percent of profits for services rendered as part of the scheme, according to a statement from the Comision Nacional de la Competencia.

The CNC made the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.